Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Cleveland-Cliffs has declined Minnesota Governor Tim Walz’s suggestion to partner with US Steel (USS) for the Hibbing Taconite (HibTac) mine. 


The steelmaker said that it has devised a plan to extend the life of the mine, which is expected to run out of iron ore by 2025. Cliffs is the majority owner of the mine and requires the HibTac facility to remain in operations. The company indicated it has established its own method to resolve the issue without involvement from its partner, USS, according to reports.


A property that is already owned by Cliffs will be used as part of the solution with no need to swap land with other companies to extend the mine’s operability. However, further details on the plan will only be provided at a later date.


The recent development follows Governor Walz’s letters last week urging Cliffs and USS to join forces to keep the mines operable to protect jobs in Minnesota’s Iron Range. The recently growing concerns also hinge on a mine expansion that is seemingly not an option due to neighboring businesses, cities, and highways.




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